This instrument ensures that transfers of warrants quoted on markets operated by ASX Limited (ASX) and Chi-X Australia Pty Ltd (Chi-X) as a result of a secondary sale do not require the provision of a Product Disclosure Statement (PDS), and exempts issuers of ASX and Chi-X financial market traded instalment warrants over managed investment products from the PDS requirements in Part 7.9 of the Act.

(a) a warrant (within the meaning of rule [7100] of the ASX operating rules) that has been admitted to trading status (within the meaning of rule [7100] of the ASX operating rules); or

(b) a warrant (within the meaning of rule 1.1 of the Chi-X operating rules) that has been admitted to quotation (within the meaning of rule 1.1 of the Chi-X operating rules).

managed investment warrant means a financial product:

(a) to which the definition of derivative in subsection 761D(1) of the Act applies that is a financial product of the kind referred to in subparagraph 764A(1)(b)(ii) or 764A(1)(ba)(ii) of the Act; and

(b) that is transferable.

Short-Form PDS has the same meaning as in Division 3A of Part 7.9 of the Act as notionally inserted by Part 3 of Schedule 10BA to the Corporations Regulations 2001.

warrant issuer means:

(a) in relation to a managed investment warrant that satisfies paragraph (a) of the definition of exchange-traded warrant—a warrant-issuer (within the meaning of rule [7100] of the ASX operating rules); and

(b) in relation to a managed investment warrant that satisfies paragraph (b) of the definition of exchange-traded warrant—a product issuer (within the meaning of rule 1.1 of the Chi-X operating rules).

(1) A warrant issuer that complies with section 1017B of the Act as if subsection 1017B(2) were omitted is exempt from:

(a) section 1013I of the Act in relation to a Product Disclosure Statement or Short-Form PDS that relates to an exchange-traded managed investment warrant of the warrant issuer;

(b) section 1015B of the Act in relation to a Product Disclosure Statement that relates to an exchange-traded managed investment warrant of the warrant issuer; and

(c) section 1017D of the Act in relation to an exchange-traded managed investment warrant of the warrant issuer.

Note 1: The consequences of relying on the exemption from section 1015B of the Act include paragraph 1013G(a), section 1013J and subsection 1016B(1) of the Act not applying in relation to the relevant Product Disclosure Statement, and section 1015D of the Act applying in relation to that Statement.

Note 2: Section 1015B of the Act does not apply to a Short-Form PDS.

(2) A warrant issuer is exempt from the disclosing entity provisions where the warrant issuer is a disclosing entity only because one or more classes of exchange-traded managed investment warrants of the warrant issuer are ED securities.